Everyone knows about the flooding in the midwest, and the flooding of the Mississippi.
Less known: The drought and the low levels of the river Rhine, in Europe.
But it does matter.
From Deutsche Bank:
In our latest commodities special report ‘Weather and the Implications for European power markets and crop yields’, we highlight drought conditions in Europe, have caused low reservoir and river levels, Figure 2, leading to low hydropower production and increased costs for transport of fuels used in power production. We remain on watch for warm temperatures this summer, which could limit nuclear power production owing to cooling restrictions.
Business Insider Emails & Alerts
Site highlights each day to your inbox.